Griffith, the recently retired CEO of Ace Hardware, has worked for the Oak Brook, Ill.-based co-op in various leadership positions since 1994 before being promoted to CEO in 2005.

As Ace Hardware pointed out in the release late last year announcing his retirement, under Griffith’s tenure, Ace was named by J.D. Power and Associates “Highest in Customer Satisfaction with Home Improvement Retail Stores” for six consecutive years.

“We have witnessed Ray Griffith over the past several years guide Ace in a positive direction and with a steady hand,” said HCN editor Ken Clark. “But more than that, Ray is a great ambassador of the hardware business in general and its twin pillars of service and quality.”

Griffith has been applauded for his charitable efforts and helped increase community outreach, the Children’s Miracle Network Hospitals and the Red Cross, while leading Ace.

In a 2011 interview with HCN, Griffith described the experience of bringing treatment to children with life-threatening diseases. “Those memories are unforgettable,” he said. “And they make us better people, and better citizens.”

In 2012, Griffith was recognized as the City of Hope “Spirit of Life” honoree, and as such he led fundraising efforts for the California cancer research and treatment facility.

During the most recent Ace Convention, Griffith received a standing ovation when he was awarded the inaugural “Ray A. Griffith Leadership Award,” to be given annually to an Ace retailer and a corporate employee.

"I've enjoyed the privilege of working with all of you and helping entrepreneurs achieve success and wealth," Griffith said. "How cool is that -- to work for a meaningful company with an honorable purpose?"

The 2013 Hall of Fame induction will take place during the Golden Hammer breakfast ceremony at the Las Vegas Convention Center on May 8.